Trimble Inc. $TRMB Holdings Cut by ARK Investment Management LLC

Key Points

• ARK Investment Management LLC has reduced its stake in Trimble Inc. by 2.3%, now holding 806,988 shares valued at approximately $61.3 million.
• Multiple institutional investors increased their positions in Trimble during the second quarter, with notable increases including 30.1% by OneDigital Investment Advisors LLC.
• Insider trading revealed significant share sales, including CEO Robert G. Painter selling 115,781 shares valued at around $9.6 million, representing a significant 50.20% decrease in ownership.

ARK Investment Management LLC lowered its holdings in Trimble Inc. (NASDAQ:TRMB - Free Report) by 2.3% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 806,988 shares of the scientific and technical instruments company's stock after selling 19,220 shares during the period. ARK Investment Management LLC owned about 0.34% of Trimble worth $61,315,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. OneDigital Investment Advisors LLC lifted its holdings in Trimble by 30.1% in the first quarter. OneDigital Investment Advisors LLC now owns 4,077 shares of the scientific and technical instruments company's stock worth $268,000 after acquiring an additional 943 shares during the last quarter. CX Institutional lifted its holdings in Trimble by 11.7% in the second quarter. CX Institutional now owns 7,054 shares of the scientific and technical instruments company's stock worth $536,000 after acquiring an additional 739 shares during the last quarter. DAVENPORT & Co LLC lifted its holdings in Trimble by 6.0% in the first quarter. DAVENPORT & Co LLC now owns 7,956 shares of the scientific and technical instruments company's stock worth $522,000 after acquiring an additional 452 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Trimble by 7.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 35,876 shares of the scientific and technical instruments company's stock valued at $2,355,000 after buying an additional 2,397 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Trimble by 10.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 42,719 shares of the scientific and technical instruments company's stock valued at $2,793,000 after buying an additional 4,185 shares during the last quarter. Institutional investors own 93.21% of the company's stock.

Insiders Place Their Bets

In other Trimble news, VP Christopher F. Keating sold 7,365 shares of Trimble stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $81.74, for a total value of $602,015.10. Following the transaction, the vice president owned 406 shares in the company, valued at approximately $33,186.44. The trade was a 94.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Robert G. Painter sold 115,781 shares of Trimble stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $82.83, for a total transaction of $9,590,140.23. Following the completion of the transaction, the chief executive officer owned 114,879 shares in the company, valued at approximately $9,515,427.57. This trade represents a 50.20% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 224,321 shares of company stock worth $18,677,518. 0.54% of the stock is owned by insiders.

Trimble Trading Up 1.4%

Trimble stock opened at $79.65 on Wednesday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.81 and a current ratio of 0.94. The firm has a market cap of $18.95 billion, a price-to-earnings ratio of 68.66, a price-to-earnings-growth ratio of 3.22 and a beta of 1.65. Trimble Inc. has a 1 year low of $52.91 and a 1 year high of $87.50. The firm's 50 day moving average price is $80.54 and its two-hundred day moving average price is $74.98.

Trimble (NASDAQ:TRMB - Get Free Report) last posted its quarterly earnings results on Friday, April 12th. The scientific and technical instruments company reported $0.60 earnings per share (EPS) for the quarter. The firm had revenue of $856.50 million for the quarter. Trimble had a net margin of 8.02% and a return on equity of 10.24%. On average, research analysts predict that Trimble Inc. will post 2.37 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on TRMB shares. Berenberg Bank set a $95.00 price target on Trimble and gave the company a "buy" rating in a report on Friday, October 3rd. Oppenheimer lifted their price target on Trimble from $88.00 to $94.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. Wall Street Zen raised Trimble from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. JPMorgan Chase & Co. lifted their price target on Trimble from $96.00 to $98.00 and gave the company an "overweight" rating in a report on Friday, September 19th. Finally, Barclays assumed coverage on shares of Trimble in a research note on Tuesday, October 7th. They set an "overweight" rating and a $100.00 price objective on the stock. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $92.10.

Trimble Profile

Trimble Inc provides technology solutions that enable professionals and field mobile workers to enhance or transform their work processes worldwide. The company's Buildings and Infrastructure segment offers field and office software for project design and visualization; systems to guide and control construction equipment; software for 3D design and data sharing; systems to monitor, track, and manage assets, equipment, and workers; software to share and communicate data; program management solutions for construction owners; 3D conceptual design and modeling software; building information modeling software; enterprise resource planning, project management, and project collaboration solutions; integrated site layout and measurement systems; cost estimating, scheduling, and project controls solutions; and applications for sub-contractors and trades.

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